Why Live in Summit
Summit, located 23 miles east of Manhattan, is a commuter-friendly neighborhood with a small-town atmosphere, characterized by locally owned businesses and historic buildings. The area has a low crime risk compared to the national average. Summit's housing market features a range of homes, including colonials and Craftsman-style houses, many of which have been renovated while maintaining their original charm. The neighborhood is known for its highly rated public schools, including Lincoln-Hubbard Elementary School, Summit Middle School, and Summit Senior High School, which boasts an award-winning performing arts department and a nationally ranked lacrosse team.
Summit offers numerous parks and recreational spaces, such as Briant Park with its picnic areas, athletic fields, and a pond for fishing and ice skating. The Summit Community Center, renovated in 2019, provides various amenities, while the Union County Open Space & Recreation Park connects to the expansive Watchung Reservation. Canoe Brook Country Club offers a more manicured setting with its private 36-hole golf course. Downtown Summit, centered around Springfield Avenue, features a variety of dining options, boutique shops, and historic sites like the Summit Diner and the Summit Opera House. The Summit Farmers Market operates seasonally on Deforest Avenue.
For commuters, Summit has two train stations providing access to New York City, with the downtown station offering a 50-minute ride or a 35-minute express option. Major highways like Route 24 and Interstate 78 facilitate travel within the region, and Newark Liberty International Airport is a convenient 15-minute drive away.
Home Trends in Summit, NJ
On average, homes in Summit, NJ sell after 88 days on the market compared to the national average of 69 days. The median sale price for homes in Summit, NJ over the last 12 months is $347,500, down 18% from the median home sale price over the previous 12 months.
Median Sale Price
$347,500
Median Single Family Sale Price
$276,500
Median Townhouse Sale Price
$459,995
Median 2 Bedroom Sale Price
$385,000
Average Price Per Sq Ft
$227
Number of Homes for Sale
19
Last 12 months Home Sales
147
Median List Price
$307,310
Median Change From 1st List Price
1%
Median Home Sale Price YoY Change
-18%